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New semiconductor plants will end global auto chip shortage next year -Tesla’s Musk

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TURIN (Reuters) -Tesla Inc CEO Elon Musk said on Friday that thanks to new semiconductor plants that are planned or under construction, the global chip shortage that has pummelled the car industry this year should be short term in nature. Asked how long he thought the global chip shortage would affect vehicle production, Musk said: “short term I think”. “There’s a lot of chip fabrication plants that are being built,” Musk said during a joint session with Stellantis and Ferrari Chairman John Elkann, at Italian Tech Week. “I think we will have good capacity for providing chips by next year,” he …

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